EU Commission proposed changes to Customs Valuation would raise import duties resulting in increased prices for consumers
Published: 18 November 2009
Policies & Issues: Trade
The European Commission’s Taxation and Customs Union Directorate-General (DG TAXUD), assisted by various Customs Code Committees, is currently drafting the new Implementing Provisions of the Modernised Customs Code (MCCIPs).
Among other revisions, it is proposed that the MCCIPs shall eliminate the first sale for export as a basis for valuing goods that are sold through complex supply chains, and further significantly expand the royalties and licence fees subject to customs duties.